Sint-Vincentius Hospital hopes for a healthy return of deceased estate

The operator of St Vincent’s Hospital hopes to cash in on the tail end of Sydney’s housing boom by listing a row of five Victorian terraces in Darlinghurst for around $11 million.

“The most important factor for us in selling these properties is simply that it’s time,” said a spokesperson for St Vincent’s Health Australia, the largest non-profit healthcare and aged care organization.

A row of five terraces across from St. Vincent’s Hospital is expected to sell for nearly $11 million.

“We can use the funds locked in these assets to deliver new services and expand our mission of responding to community needs.”

Peter Starr of Belle Property Double Bay said the terraces were bequeathed to the hospital in the 1980s, providing a combined 877 square foot property on Boundary Street, on the Paddington-Darlinghurst border.

Of the row, the largest two terraces at the end have been left unoccupied for decades and are considered condemned, as the exterior walls are supported by steel beams.

Despite their uninhabitable condition, the two terraces are the most expensive of the line, as they sit on a single 505 square meter title and encompass an adjacent vacant lot. The guide of fate is $5 million to $5.5 million.

Two of the five terraces are dilapidated, the outer wall is supported by steel beams.

Two of the five terraces are dilapidated, the outer wall is supported by steel beams.

“There is the potential to build three terraces or two larger terraces as this plot has a 15m street frontage,” said Starr, who listed the company with Savills’ Nick Lower.

The remaining three, smaller terraces are currently leased and offered separately for approximately $1.8 million each.

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